Southern Pacific Resource Corp STPJF

Price

[jsg335]

Looking forward to the end of the trading day when the stock goes red right at the bell.  Also love that large sell order at .27cents which has been disappearing and then appearing once again just in time to scare a few more people into selling.  This is such a scam, I can tell that this is being manipulated and in the beginning of next  year it will probably rocket higher once these clowns are done.

[nikehercules]

If this thing goes red at the bell again these guys are not very sophisticated - we all know what they're up to and that's reflected in the shrinking bid size. If I was on the sell side, I'd buy a few shares and get this thing up a couple cents to build confidence and bid size, then blast it down again. Painted tape vs. going red - you make the call!!

[Prof_JD]

Nickelman, regards to your previous question you asked- yea its possible for 20 cents.... but it would be quite a stretch as RSI alrready 15.0. a 20 cent sp would be sending RSI lower than 10 for sure which is almost unheard of in technicals we did get a 0.245$ bid this morning showing so i would see it more bottoming short term around 22-23 cents. whats your bag osition in this?  where you

[jsg335]

That truly is one ugly chart, no bump ups since mid October.  What's going on here?  Feels like Sino-Forest or something 

[jsg335]

Here comes new lows, another 5-10% loss in a day, some more dumping.  I think we will hit low 20s by end of day possibly 

[nikehercules]

I'm long, and the average is 0.42. My position is too large to trade in and out. STP is tied directly to it's production. Last month was pretty bad, since everything seemed to go wrong. Short term, we could be back in the 40's when the tax loss selling pressure subsides and if the production trend gets better. I was buying at 0.32 in the summer when it appared McKay was a bust

[Prof_JD]

nickelman, im new to STP  ; please try tto explain to me what their biggest problem is ;;; is it debt or production? jd the prof

[smithgee]

Prof_JD wrote: nickelman, im new to STP ; please try tto explain to me what their biggest problem is ;;; is it debt or production? jd the prof Right now i think it is that big block of shares (900K) at .27 that is scaring the heck out of people ... makes me wonder if it is fake and is being used to cause some panic selling? https://twitter.com/CndStockTrader

[jsg335]

It is a fake as it's disappeared again, did the same thing as yesterday at .28cents.  And it has worked as people have shaken, just hoping that's all this is.

[nikehercules]

Debt is high, but manageable. STP only lost 1.5 million operationally last quarter on 4700 bbls of production. They currently have a rig at McKay and will be drilling another well at Senlac in the Spring - that's the only capex. They have 50 million in cash( 15 in the bank due to a land sale, 35 million left on a 100 million line of credit). They have the option of a second 120 million LOC or

[nikehercules]

Production is the issue - but it is slowly getting better and is not reflected in the SP.

[BayStreetRaider]

Taking a careful look at the burn rate versus cash in hand and bank lines availability, STP has about a year to break even in production. In other words, we have a full year before we need to get to 6,500 boe/d. Can it really be that hard? (and that's not counting additional cash we can raise from selling some other undeveloped properties in our portfolio + other 'creative' financing)